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Skills Development Act, 1998 (Act No. 97 of 1998)


Constitution of the Financial and Accounting Services Sector Education and Training Authority (FASSET)

2. Objects, Functions and Duties of Fasset


2.1 Objectives of Fasset

The objectives of Fasset are: to develop the competence of workers in the sector; to increase the levels of investment in education and training and to seek to improve the return on this investment; to position the sector as the 'sector of career choice' for workers; to encourage employers and workers to adopt a culture of life long learning through:
using the workplace as an active learning environment;
providing workers with the opportunities to acquire new skills;
providing opportunities for workers in the sector labour market and enhancing access to opportunities to gain work experience; to support the objectives of the Employment Equity Act, 1990 (Act No. 55 of 1998); to enhance access to learning opportunities and to facilitate the recognition of prior learning; to ensure the quality of education and training in the sector; to expand the provision of education and training in the sector through sound partnerships with public and private sector service providers; to encourage greater co-operation between the public and private sectors in relation to the development of workplace skills; and to co-operate with the South African Qualifications Authority and other SETAs, in support of the objectives of the Act.

Fasset must ensure that all relevant legislation and policies are implemented in order to enable it to achieve its objectives.


2.2 Powers of Fasset

Fasset shall have all such powers as are granted to SETAs in terms of the

Act, and any other applicable legislation, to enable it to perform its duties and

functions and to fulfill its objectives. Without limiting the generality hereof,

Fasset shall have, inter alia, the following powers, subject always to the

applicable legislation:

to acquire assets;

to raise funds, generate income and charge fees;

to enter into contracts;

to establish rules, regulations and guidelines relating to meetings, financial matters, general procurement and operational and administrative matters;

to establish committees to assist it in its functions; and

to delegate any functions or activities to a committee or to an official of Fasset.


2.3 Functions of Fasset

Fasset will serve to: facilitate strategic human resource development planning within the sector; facilitate the proposal of education and training standards and qualifications with bodies registered with the South African Qualifications Authority and be responsible for the facilitation of the development of education and training standards; monitor and audit achievements in terms of those standards and qualifications; accredit providers, assessors and moderators of education and training in the sector; assure the quality of education and training in the sector without itself being a provider of education and training; analyse and prioritise education and training needs within the sector and develop skills development strategies to address identified priorities; enhance access to learning opportunities, including:
career paths and progression pathways;
national qualifications framework qualifications; and
learnerships; manage and administer all learnerships within the sector; manage the administration of levy disbursements in the sector; promote a culture of learning within the sector and encourage stakeholder participation in the strategies and activities of Fasset; promote and market Fasset through regular communication with all stakeholders and potential stakeholders; perform any other function required by the South African Qualifications Authority in terms of Fasset's registration as an Education and Training Quality Authority; and perform any other function that must be performed by Fasset in accordance with the Act, the constitution or any other applicable legislation.

Fasset will specifically, in accordance with the Act: develop a sector skills plan within the framework of the national skills development strategy; implement a sector skills plan by:
approving and monitoring workplace skills plans;
establishing learnerships;
allocating grants in the prescribed manner, and in accordance with any prescribed standards and criteria, to employers, education and training service providers and in respect of workers; and
monitoring education and training in the sector; promote learnerships by:
identifying appropriate workplaces where individuals can gain practical work experience;
supporting the development of learning materials;
improving and supporting learning through the development of learning methodologies and materials;
improving the facilitation of learning; and
assisting in the conclusion, registration and monitoring of learnerships agreements; registering learnership agreements; liaise with the National Skills Authority, as well as other SETAS, on issues including:
the national skills development strategy;
the national skills development policy; and
its own sector skills plan; submit to the Director-General of Labour: any budgets, reports and financial statements on its income and expenditure that it is required to prepare in terms of the PFMA;and plans and reports on the implementation of its sector skills plan and service level agreement; liaise with the employment services of the Department of Labour, education councils and other regulatory bodies established in terms of education laws of South Africa in order to improve the quality of information:
about employment opportunities; and
between education and training providers and the labour market; facilitate the involvement of the relevant government departments in the activities of Fasset in order to:
address the competency requirements for social delivery;
address the learning needs of the most vulnerable segments of the sector; and
promote training in Small, Medium and Micro Enterprises (SMME's) to enable them to qualify for public contracts; subject to section 14 of the Act, appoint staff necessary for the performance of its functions; promote the national standard established in terms of section 30B of the Act; perform any other duties imposed by the Act or other functions not specifically mentioned, in order to fulfill the objectives of Fasset; collect the Skills Development levies, and disburse the levies allocated to it when required to do so, as contemplated in sections 8(3)(b) and 9(b) of the Skills Development Levies Act; and. for each financial year, conclude a service level agreement with the Director-General concerning: Fasset's performance of its functions in terms of the Act and the national skills development strategy; Fasset's annual business plan; and any assistance that the Director-General is to provide to Fasset in order to enable it to perform its functions;

Provided that if Fasset and the Director-General cannot agree on the contents of a service level agreement within a prescribed time period, the Minister shall determine the contents after consultation with the National Skills Authority.